EX-12 2 c93660exv12.htm EXHIBIT 12 Exhibit 12
Exhibit 12
Retail Ventures, Inc
Computation of Ratio of Earnings to Fixed Charges
(in thousands except ratios)
                                                 
    Six months ended                     Year Ended              
    August 1,     January 31,     February 2,     February 3,     January 28,     January 29,  
    2009     2009     2008     2007     2006     2005  
Earnings
                                                
(Loss) income from continuing operations before income taxes, discontinued operations and net income attributable to the noncontrolling interests
   $ (53,930 )   $ 126,066     $ 334,249     $ (70,627 )   $ (81,944 )   $ 55,167  
Fixed charges (as below)
     28,025       51,790       48,215       38,931       30,420       26,548  
 
                                    
Total (loss) earnings
   $ (25,905 )   $ 177,856     $ 382,464     $ (31,696 )   $ (51,524 )   $ 81,715  
 
                                    
 
Fixed Charges
                                                
Interest expense
   $ 6,442     $ 13,603     $ 13,896     $ 8,487     $ 2,306     $ 2,734  
Estimated interest element in minimum rent expense(4)
     21,583       38,187       34,319       30,444       28,114       23,814  
 
                                    
Total fixed charges
   $ 28,025     $ 51,790     $ 48,215     $ 38,931     $ 30,420     $ 26,548  
 
                                    
 
Ratio of (loss) earnings to fixed charges
     (0.92 )(1)     3.43       7.93       (0.81 )(2)     (1.69 )(3)     3.08  
     
(1)  
For the six months ended August 1, 2009, the earnings to cover fixed charges were deficient by $53,930.
 
(2)  
For the year ended February 3, 2007, the earnings to cover fixed charges were deficient by $70,627.
 
(3)  
For the year ended January 28, 2006, the earnings to cover fixed charges were deficient by $81,944.
 
(4)  
Interest component is estimated to be one-third of minimum rent expense.